This is to inform you that the Board of Directors of the Company in its Meeting held today i.e. 26th May, 2025, which commenced at 02:30 P.M. and concluded at 4:50 P.M., at the registered ....
Awaiting price reaction for this filing.
The Board of Directors approved audited standalone and consolidated financial results for Q4 and FY25 on May 26, 2025. The company reported a steeply wider loss of Rs. 952.34 lacs for FY25 versus Rs. 355.88 lacs in FY24, with Q4 alone posting a Rs. 707.56 lacs loss driven by a sharp spike in other expenses. Revenue from operations declined to Rs. 43.42 lacs in FY25 from Rs. 53.90 lacs in FY24. The statutory auditor (Nemani Garg Agarwal & Co.) issued a qualified/modified opinion flagging unprovided impairments on intangible assets (~Rs. 126 Cr), investments in dormant overseas subsidiaries (Rs. 61.75 Cr), a disputed Banco Efisa (Portugal) bank balance of Rs. 34.79 Cr, and Rs. 222.11 Cr of unrecoverable-looking loans/advances for a Bareilly data centre. Operating cash flow remained negative at Rs. (53.03) lacs.
This is a deeply negative filing for shareholders: losses are widening, revenue is shrinking, the auditor has flagged multiple unprovided impairment risks in excess of Rs. 400 Cr, NSE has issued a show-cause notice for potential delisting, AGM has not been held for two years, shareholding pattern filings are overdue, listing fees and SEBI penalties remain unpaid, and the promoter demat accounts are frozen. Stock is at high risk of further regulatory action and possible delisting from NSE/BSE.